Driehaus Capital Management LLC Purchases New Position in AvePoint, Inc. (NASDAQ:AVPT)

Driehaus Capital Management LLC bought a new position in AvePoint, Inc. (NASDAQ:AVPT) in the second quarter, HoldingsChannel.com reports. The fund bought 1,660,771 shares of the company’s stock, valued at approximately $17,305,000.

Other large investors also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in shares of AvePoint during the second quarter worth approximately $83,000. Bayesian Capital Management LP bought a new stake in shares of AvePoint during the first quarter worth $130,000. nVerses Capital LLC bought a new stake in shares of AvePoint during the second quarter worth $173,000. SG Americas Securities LLC increased its position in shares of AvePoint by 44.2% during the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after acquiring an additional 5,125 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of AvePoint during the fourth quarter worth $148,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.78, for a total value of $215,600.00. Following the completion of the sale, the insider now owns 1,277,373 shares in the company, valued at $13,770,080.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $10.78, for a total transaction of $215,600.00. Following the completion of the sale, the insider now owns 1,277,373 shares in the company, valued at approximately $13,770,080.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.94, for a total transaction of $119,400.00. Following the sale, the insider now owns 18,390,673 shares of the company’s stock, valued at approximately $219,584,635.62. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock worth $1,658,000 over the last quarter. 27.78% of the stock is currently owned by insiders.

AvePoint Price Performance

Shares of AVPT stock opened at $11.71 on Friday. The stock has a market cap of $2.17 billion, a P/E ratio of -146.38 and a beta of 0.89. The company has a fifty day moving average price of $11.12 and a two-hundred day moving average price of $9.64. AvePoint, Inc. has a one year low of $6.45 and a one year high of $12.09.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The firm had revenue of $77.96 million during the quarter, compared to analyst estimates of $75.17 million. AvePoint had a negative net margin of 4.77% and a negative return on equity of 6.66%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) EPS. As a group, equities research analysts anticipate that AvePoint, Inc. will post -0.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVPT. Cantor Fitzgerald raised their target price on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Northland Securities raised their target price on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, August 9th.

AvePoint Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.